Hema Gariya, BML Munjal Unversity, Haryana
ABSTRACT:
The economic evaluation of the “fair use exception” within intellectual property law is an important area of research that examines the complex interaction between copyright protection and societal objects. This paper aims to explore the concept of fair use, which facilitates limited use of copyrighted material without consent or payment from the author, and its economic implications. The paper will further analyze landmark cases such as Williams & Wilkins and Betamax, and evaluate the effect of fair use on copyright holders, technological innovation, and consumer welfare. Additionally, it will also discuss the role of fair use in addressing market failures and reducing transaction costs in intellectual property transactions.
Through an examination of legal principles, economic theories, and case studies, this paper provides valuable insights into the economic rationale behind fair use and its importance in promoting both creativity and knowledge.
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